Monday, 3 November 2014

11am update - minor weakness

Having broken a new historic high of sp'2021, the market is cooling...if only a little. Metals are unable to bounce, with Gold -$3. Energy is mixed, Nat' gas +3.9%, whilst Oil is -0.6%. VIX is making a play for the 15s.

sp'daily3 - fib retrace


*I'll likely highlight the above chart across the week... but the notion of even a moderate retrace looks 'difficult'.

At best.. maybe the 1970s late this week, but really...its nothing for those in bear land to get excited over.

Notable strength: BABA +3% @ $101.... earnings are tomorrow.